Washington (CNN) - Negotiations on raising the debt ceiling, tied to tackling the nation's growing deficit, have officially reached an impasse.
Lawmakers must raise the nation's $14.3 trillion legal borrowing limit soon. The Treasury Department says that on August 2 it will run out of money to pay the nation's bills in full and on time.
obama should of hammer the million and billionares last election for taxes ... he caved .. so now he is playing russian roulet with the economy on the debt celing....he needs to get some grit....
Let the republicans cause the United States to default on its debt. After the dust settles, the voters will end the Greedy Old Party as we know it. Go republicans!
I am glad to see Obama and the Democrats backing off of their original stance of raising the debt ceiling with no conditions. They tried to get it raised without any spending cuts. Thank the Republican leadership for remembering why we sent them to Washington and holding fast to a requirement that spending cuts need to happen now.
So now the Democrats are agreeing to $4 trillion in reduced spending. Great job, Speaker Boehner. Great job. We are finally seeing actual results out of Washington.
Regardless of who's doing the talking, the middle class is ultimately the loser. Majority of Americans want taxes raised on the wealthy and the fascists republican regime just won't budge.
Obama will do the talking and that's about it. Too bad, Mr. President, you can't vote present when you're the POTUS. I live in Illinois where the Dems raised our taxes without spending cuts. In my small town, we lost a business that moved to another state (Texas) because of it. That's nearly a 100 jobs. Good job Dems!!!
The comments by mcconnell: "flat out that there would be absolutely no give from the GOP on tax increases." are totally out of line with our form of balanced government. When one party abuses the power it has in such a way, the majority of Americans, who elected our President and give the dems the majority in the Senate, have no voice.
I hope the President and the other dems will stand up to these thugs, even if the country is harmed. The long-term damage to our government will be greater if we allow mcconnell and his cohorts to succeed. Again.
No deal is good. Bring this capitalist country down. It is too wealthy and powerful. The playing field needs to be leveled. We all must join unions and go on welfare to suck the system dry. Once the host is dead we can build our socialist dream country. We just need to figure out how to pay for it. Work is out of the question.
There is a term called "bargaining in good faith" that the GOP does not seem to understand. To them compromise is surrender and that is just thick headed and stupid.
The fact that the Democrats are the ones expected to make all the concessions is pitiful. No one can argue that increasing revenue will hurt the economy right now and if we aren't going to raise the top 2% tax rate we should atleast get rid of the tax loopholes and in 2012 the Bush tax rates are gone for everyone.
@Four – Truly hope that the you don't need anything from the programs that get cut in this extensive round of belt tightening!
Your stance of "no compromise" just goes to show that the Republican mantras are indeed getting to their base!
Wonder how you deal with "negotiations" around your own home and family?? How does NO COMPROMISE work for you there? Didn't think so! Since taking over the House in 2011, the Republicans have not done one positive thing for the JOBS platform that they so rigorously campaigned for. Not shocking, but pretty irresponsible!
Wait until the stock market tanks again – because of the GObP obstruction – and then try to blame your 401K losses on President Obama. Education is never a bad thing!
Only cut spending won’t help we know that DC know that